Published on 10/31/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.26 million callable contingent coupon equity linked securities on ETFs
New York, Oct. 31 – Citigroup Global Markets Holdings Inc. priced $1.26 million of callable contingent coupon equity linked securities due Oct. 30, 2025 linked to the SPDR S&P Biotech ETF, the iShares Global Clean Energy ETF and the iShares PHLX Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.75%, paid monthly, if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Jan. 25, 2024.
The payout at maturity will be par if the worst performing ETF ends at or above its 60% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity linked securities
|
| Underlying ETFs: | SPDR S&P Biotech ETF, iShares Global Clean Energy ETF and iShares PHLX Semiconductor ETF
|
| Amount: | $1,263,000
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | 19.75%, paid monthly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
|
| Call option: | At par on any monthly review date starting Jan. 25, 2024
|
| Initial levels: | $65.50 for SPDR S&P Biotech ETF, $13.21 for iShares Global Clean Energy ETF, $442.23 for iShares PHLX Semiconductor ETF
|
| Coupon barriers: | $45.850 for SPDR S&P Biotech ETF, $9.247 for iShares Global Clean Energy ETF, $309.561 for iShares PHLX Semiconductor ETF, 70% of initial levels
|
| Final barriers: | $39.300 for SPDR S&P Biotech ETF, $7.926 for iShares Global Clean Energy ETF, $265.338 for iShares PHLX Semiconductor ETF, 60% of initial levels
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17291T5B0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
